Shaanxi Broadcast & TV Network announced that it recently received a civil complaint from the Haidian District People's Court in Beijing. The plaintiff, China Broadcast & TV Satellite, is seeking a court order for the company to pay subscription fees totaling 80.3 million yuan for the years 2023 to 2026, along with overdue payment penalties and damages, and to bear the litigation and preservation costs of the case. Due to China Broadcast & TV Satellite's application for property preservation, some of the company's bank account funds have been frozen, which has had a certain impact on the withdrawal of funds from the relevant accounts. The company has been actively communicating and negotiating with China Broadcast & TV Satellite, striving to lift the account freeze as soon as possible through settlement or mediation.
Shaanxi Broadcast & TV Network Intermediary Group Co LtdSued for 80.3 million yuan in unpaid subscription fees; some bank accounts frozen.